James Taiclet, president and CEO of Lockheed Martin, said acquiring Aerojet Rocketdyne will bring in propulsion systems for potential integration with Lockheed-built missile and rocket offerings, Via Satellite reported Monday.
Taiclet told analysts Monday during a conference call he expects the transaction to support upfront design, production planning and engineering integration efforts at the Bethesda, Maryland-based aerospace and defense company.
He said the vertical combination with a propulsion technology supplier will offer more capability to federal clients such as NASA and the Department of Defense.
Lockheed aims to build up its “platforms with more mission systems content“ through the acquisition to help address customer requirements.
The pending $4.4B deal announced Sunday is part of Lockheed's push to expand capabilities in the areas of hypersonics, space exploration, integrated air and missile defense and tactical missiles. The company expects to close the transaction in the second half of 2021.